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Molten

Charting the course of XRP

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15 minutes ago, Molten said:

The longer we remain in this broadening wedge, the bigger the eventual break out will be.  So there's a glass half full way of looking at it :)

 

I’ve heard that recently and I begin to ask myself if I’ll have the steady hands to hold past $5-8 lol.

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XRPUSD shows another double bottom after testing the fib level (red line).  I am expecting a break above sometime soon.  If it weren't the weekend, I would say today, but weekends are always unpredictable with the low volume.

EDIT:  Look at that support/resistance flip.  It's amazing how reliable TA can be with things like this: we broke through that bearish trend line and then tested it perfectly but never broke below.  Bullish, but on a small scale.

1RcHyrQu

Edited by Molten

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4 hours ago, Molten said:

XRPUSD shows another double bottom after testing the fib level (red line).  I am expecting a break above sometime soon.  If it weren't the weekend, I would say today, but weekends are always unpredictable with the low volume.

EDIT:  Look at that support/resistance flip.  It's amazing how reliable TA can be with things like this: we broke through that bearish trend line and then tested it perfectly but never broke below.  Bullish, but on a small scale.

1RcHyrQu

You're the worst technical trader I've ever witnessed. Your posts are doing more harm than good. 

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Just to expound on why I believe this to be a true double bottom... look at the volume on the two troughs.  The first is much higher than the second.  This is a classic indicator of selling exhaustion.  Then you see a higher volume green candle immediately following the second selling trough candle, much higher volume than the corresponding green candle after the first dump = more buying pressure.

Time will tell as always, but I believe that we witnessed a local bottom there.   A lot more work to do before anyone could reasonably suggest that this was the global bottom of this massive bear market, but I think the price goes up from here.  I do foresee an instance in which we grind back up to the resistance area between $0.28-$0.30 and get rejected back to the bottom of the trend line, possibly chopping into the support zone of $0.18-$0.19, maybe even wick very briefly below, but I would think that that would be the last touch of the bottom trend line of the broadening wedge and then up for good from there.

0AYag8yn

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53 minutes ago, googo said:

You're the worst technical trader I've ever witnessed. Your posts are doing more harm than good. 

Lately I’ve seen you posting bile and spite at a number of people.  But all you post has just been sniping nastiness.  Do you actually have a bit of detail as to why you think that?  Or an alternative theory or reading?

I’m wondering if you are just trolling or actually have some discussion points.

 

EDIT:  I thought I should check in case I’ve missed where you posted actual content...   so I looked...    nah it’s just as I said,  sniping nastiness.

Edited by Tinyaccount

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3 minutes ago, Tinyaccount said:

Lately I’ve seen you posting bile and spite at a number of people.  But all you post has just been sniping nastiness.  Do you actually have a bit of detail as to why you think that?  Or an alternative theory or reading?

I’m wondering if you are just trolling or actually have some discussion points.

Already reported him.

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Just now, Molten said:

I had already ignored so I didn't see that post.... "worst technical trader ever".... that's going in the ol' trophy case!

There's a lot of competition for that one. You have to beat me out to claim that trophy, son.

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2 minutes ago, Molten said:

I had already ignored so I didn't see that post.... "worst technical trader ever".... that's going in the ol' trophy case!

So if you really ARE the worst technical trader ever...  I can make a fortune counter trading you!  :JC_doubleup:
Gee I really hope that articulate and helpful poster really does know his stuff else I’m probably going to lose my house.  :( 

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Just now, Tinyaccount said:

So if you really ARE the worst technical trader ever...  I can make a fortune counter trading you!  :JC_doubleup:
Gee I really hope that articulate and helpful poster really does know his stuff else I’m probably going to lose my house.  :( 

Yes!!  The smart thing to do right now is to short this bottom, that's what the smart people like @googo and CryptHawk do!  

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1 hour ago, googo said:

You're the worst technical trader I've ever witnessed. Your posts are doing more harm than good. 

Are you gonna back that up with an actual counter argument? 

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